Wednesday, April 09, 2008

Hello Goodbye v2.0

Yesterday, I was listening to the Beatles, Magical Mystery Tour, at the same time as I was hankering back to the days when economic policies were a tad more coordinated - both which show my age - whereupon the following lyrics to "Hello Goodbye" conjured themselves, striking me as apt:

HELLO GOOD-BYE v2.0 (With apologies to The Beatles)

Fed says "cut", ECB says "no".
Ben says its all "stop" and JC says it's "all Grow! Grow!, Not slow!!"
Fed says "too high!" and Trichet says "too low!"
"too low not slow?"
I don't know why Fed says "too high", when its sooo low
too high ?!? too high?!?
I don't know why Fed says "too high!" When it's so low...

Hank P. says "too high", Jim Grant says "too-low".
Is inflation nigh? 'cause real rates are be-low, ze-ro ??
The Fed says they're "too high", ECB says "too low"

(Too low! Not high!) Too low, not high! too low? too low!
(so low, so buy?) I don't know why you say to buy, when banks say "No!"
(Hello Good buy?) buy now? Right Now ?
(Too low?, too high?) I don't know why you say too high
(Too low? Too high?) with rates so low...

Why why why why why why do you say "good-bye" with real rates so low!


Macro said...

Why why why why why why do you say "good-bye" with real rates so low!

Because my PB had the temerity to increase my haircut and gave me a margin call that I couldn't meet because these one of a kind assets in my portfolio are not accurately valued by the marketplace. As a result, they called in everything and I have been forced to go out of business. It's a real tragedy.

Macro Man said...

Sorry, that was me....

OldVet said...

I'm going to pay my tax bill to the US Treasury this year with CDO's from my portfolio valued at "basis" or book, to you. Plus a couple $600 toilet seats. Turn tragedy into comedy, be happy.